Katz Law is a law firm located in Bethesda, Maryland. The firm has been in business for 16 years. Their practice areas include Construction law. Katz Law also has an office in Baltimore (Maryland).
Typically, no. A bond, both payment and performance, is for claims made by others, not the principal on the bond. However, if the owner is a private party, the best course of action for an unpaid GC is usually a mechanic's lien procedure (unless of course it waived its ML rights in a state that allows waiver). See More...
You may file a lien against the leasehold interest, assuming you improved the tenant's portion by more than 25% of its value (meaning, the 'building' at issue is the tenant's unit, not the entire mall or strip plaza - and while its hard to quantify its value, a full retrofit will usually more than cover the requisite improvement value for mechanic's lien purposes). And while it may not sound as sexy as foreclosing on the entire mall through the mechanic's lieSee More...See More...
i am sorry to hear about your troubling getting paid for the work you have done. It sounds like you know what you need to do, which is to file a mechnaic's lien as quickly as possible. While you are well within your time limitations for the almost completed hotel renovation, the other jobs may be approaching the filing deadline for a mechanic's lien, and I urge you to speak with an experienced construction attorney as soon as you can. I can be reached direSee More...See More...
The fillable form for DC's notice of mechanic's lien addresses this, and indicates that a foreign entity (ie, not a DC entity) which does not transact regular business within the District, will need to provide its current license to do business in its home jurisidction, as well as a certificate of good standing from its home jurisidction issued within the last 180 days, as a prerequisite to fling a notice of mechanic's lien. Please feel free to reach out to me directly (See More...See More...
You can certainly keep your contract at a 24% interest rate - whether a judge will give that to you pre-judgment or not is a different story. After a judgment is granted, the interest merges with the judgment and only 10% may be applied moving forward. In general, though, mechanic's lien or bond claims are far more powerful collection tools than a straight lawsuit, but those proceedings generally do not allow for pre-judgment interest, at least not at a 24% rate.See More...